FRANCHISE ADVICE


Kick-start your expansion


Alternative top tips to franchising your business… and what you need to do next! By Nick Williams, Ashtons Franchise Consulting


W


ith over 900 franchise brands operating in the UK, contributing £15billion to the economy, could your business be the next


big player? Here’s an alternative top 5 tips to franchising your business and what actions you need to take:


1. Start with 'why' You don’t normally get in your car without an idea of where you’re heading, so why wouldn’t you want to have a clear purpose for your business? In the franchise sector, it’s so important that you not only continually shout out about your mission and vision statements, but also that they are super simple to explain and clear to understand. You will need your prospective and current franchisees, and their employees and customers, to be fully engaged with your brand.


Your mission and vision statements


determine the company’s direction, focus the business’s future and provide a template for making decisions, by helping to shape strategy. These statements should be developed by first developing your 'why': Ÿ Why did you start your business? Ÿ Why does your business do what it does?


Ÿ Why have you chosen the franchise model route to grow?


Ÿ Why should people buy from you? Telling your story is powerful.


Your ‘why’ should grab your customers’ attention (and not only your end customers, but also your franchisees) and reel them in!


ACTION Watch Simon Sinek’s “Start with Why” Ted Talk to help you think about your ‘Why’: https://www.ted.com/talks/simon_


sinek_how_great_leaders_inspire_action


2. Carve out your USP Can you pinpoint exactly what makes your business unique compared with your competitors, or with other franchises after a similar demographic of franchisee? Being able to clearly explain to a potential franchisee what makes you different is essential if you want to make them sit up and say: “Yes, this could be for me!” You need to define your target


audience, explain the problems you solve, list the biggest distinctive benefits and define your promise. Think about using a guarantee to


make you stand out and show your audience your own, one-hundred-per- cent confidence in your offering.


ACTION Develop a unique selling proposition for your franchise opportunity (and for your


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